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In this video tutorial, Matthew explains how to create a Memorandum of Understanding (MOU) using legal templates. He instructs viewers to click the link provided in the video description, navigate to "business forms," and then search for "memorandum of understanding." To create the document, users must identify the first party as either a business or an individual and fill in their name, address, city, state, and zip code. The same information is required for the second party. The tutorial also covers defining the memorandum's effective date, stating the project name and objectives, and detailing the cooperation aspects, including the expertise and experiences each party will contribute.